Clover Health Investments, Corp. (NASDAQ:CLOV) Receives $6.78 Consensus Target Price from Analysts

Shares of Clover Health Investments, Corp. (NASDAQ:CLOVGet Rating) have been assigned an average rating of “Hold” from the ten brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $6.40.

Several research analysts have recently weighed in on CLOV shares. Zacks Investment Research upgraded Clover Health Investments from a “hold” rating to a “buy” rating and set a $3.00 target price on the stock in a report on Tuesday. Canaccord Genuity Group started coverage on Clover Health Investments in a report on Wednesday, February 2nd. They set a “buy” rating and a $6.00 target price on the stock. Cowen upgraded Clover Health Investments from an “underperform” rating to a “market perform” rating and lowered their target price for the stock from $7.00 to $3.00 in a report on Wednesday, February 2nd. SVB Leerink decreased their price objective on Clover Health Investments from $3.00 to $2.50 and set a “market perform” rating on the stock in a report on Friday, February 25th. Finally, Credit Suisse Group cut Clover Health Investments from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $9.00 to $3.50 in a report on Friday, January 7th.

Shares of Clover Health Investments stock opened at $3.13 on Monday. The stock has a market cap of $1.48 billion, a P/E ratio of -2.19 and a beta of 1.50. The stock’s 50 day simple moving average is $2.69 and its 200-day simple moving average is $5.23. Clover Health Investments has a 1-year low of $1.95 and a 1-year high of $28.85. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.02 and a quick ratio of 2.02.

In related news, Director Chelsea Clinton acquired 100,000 shares of the business’s stock in a transaction dated Thursday, March 3rd. The shares were acquired at an average price of $2.53 per share, with a total value of $253,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lee Shapiro acquired 80,000 shares of the business’s stock in a transaction dated Friday, March 11th. The shares were bought at an average cost of $3.10 per share, for a total transaction of $248,000.00. The disclosure for this purchase can be found here.

Several institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. increased its position in shares of Clover Health Investments by 51.4% during the fourth quarter. Baillie Gifford & Co. now owns 7,787,680 shares of the company’s stock worth $28,970,000 after acquiring an additional 2,645,503 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Clover Health Investments by 367,220.4% during the third quarter. PNC Financial Services Group Inc. now owns 6,611,767 shares of the company’s stock worth $48,861,000 after acquiring an additional 6,609,967 shares during the period. BlackRock Inc. increased its position in shares of Clover Health Investments by 53.5% during the fourth quarter. BlackRock Inc. now owns 5,351,416 shares of the company’s stock worth $19,907,000 after acquiring an additional 1,865,164 shares during the period. Ghisallo Capital Management LLC purchased a new position in Clover Health Investments in the fourth quarter valued at $19,705,000. Finally, Geode Capital Management LLC increased its holdings in Clover Health Investments by 34.4% in the fourth quarter. Geode Capital Management LLC now owns 2,403,839 shares of the company’s stock valued at $8,942,000 after buying an additional 614,777 shares during the last quarter. 18.14% of the stock is currently owned by institutional investors and hedge funds.

Clover Health Investments Company Profile (Get Rating)

Clover Health Investments, Corp. operates as a Medicare Advantage insurer in the United States. The company through its software platform provides preferred provider organization and health maintenance organization health plans for Medicare-eligible consumers. Clover Health Investments, Corp. was founded in 2014 and is headquartered in Franklin, Tennessee.

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